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Get a Mortgage to Buy Off Plan
Buying a new build home off-plan can be exciting — you’re getting something brand new, designed just the way you want it, and often at a better price than existing homes. But when it comes to securing a mortgage to buy off-plan, there are a few extra steps and details to get right. At Strive, we specialise in mortgages for new homes and off-plan purchases, with over a decade of experience helping buyers make confident, well-informed decisions.
What Does Buying Off-Plan Mean?
Buying a property “off-plan” means you’re purchasing it before it’s been built — sometimes before construction has even started. You’ll typically be shown plans, CGI visuals, and a show home to give you an idea of what’s coming.
There are risks, but also serious rewards. You’re committing early, often locking in a lower price than you’d pay once the development is finished. You might also get the chance to choose layouts, finishes, and upgrades that suit your taste.
How To Buy a House Off-Plan
- Reserve your plot – You’ll pay a reservation fee (usually £500–£2,000) to secure your chosen home.
- Exchange contracts – You’ll normally have 28–56 days to exchange contracts and pay your deposit. This is when things become legally binding.
- Wait for completion – Once the build is finished, your solicitor and lender will arrange completion — the final step before you get your keys.
Questions You Should Ask When Buying Off-Plan
- Are there any discounts or incentives (e.g. deposit contributions or upgraded fittings)?
- How long is the build time and what’s the developer’s track record for completing on schedule?
- What’s included in the price — flooring, appliances, landscaping?
- Is the property newly decorated or will you need to finish certain areas yourself?
- How long does the warranty (usually NHBC or similar) last?
Advantages of Buying Off-Plan
- Potentially cheaper than buying a completed property — you’re securing today’s price for tomorrow’s home.
- Customisation options — choose kitchens, bathrooms, and finishes to suit your taste.
- Government help — some schemes like First Homes or developer incentives can make it easier to get on the ladder.
- New build warranties for peace of mind against structural issues.
Disadvantages to Consider
- Snags – New builds often need small fixes after completion.
- Mortgage challenges – Because you’re buying before completion, your mortgage offer might need refreshing if the build takes longer than expected.
- Valuations – Sometimes the final value can differ from the agreed price, especially if the market shifts.
Getting a Mortgage to Buy Off Plan
The key thing to understand is that while a lender can approve your mortgage early, they won’t release funds or let you complete until the property is ready.
If there’s a long gap between approval and completion, your mortgage offer may expire and need re-approval. Lenders might also re-inspect the property before release to make sure the build is complete and up to standard.
Some lenders are more flexible than others with off-plan purchases, and not every lender accepts them. That’s where having the right broker makes all the difference.
Other New Build Considerations
Buying off-plan is one part of the picture — but there are also wider new build rules and quirks to understand.
New build Mortgage Deposit requirements:
Lenders often treat new builds differently. For new build houses, you’ll usually need a minimum 10% deposit. For new build flats, it’s often 15% or even 20% — lenders see them as slightly higher risk.
New Build House LTV Limits by Lender
| Maximum LTV on New Build Houses (Residential) | Lenders |
|---|---|
| 100% | Skipton Building Society |
| 95% | Atom Bank, Leeds Building Society, TSB, Saffron for Intermediaries, , Bath Building Society, Beverley Building Society, Santander,, Nationwide Building Society, Principality Building Society, , Newcastle for Intermediaries, Furness Building Society, Cambridge Building Society, Suffolk Building Society, West Brom Building Society, Halifax |
| 92% | West One Loans |
| 90% | Kensington Mortgages, Mpowered Mortgages, Hinckley & Rugby Building Society, The Mortgage Lender, Metro Bank, Accord Mortgages, Aldermore, NatWest, Newbury Building Society, Cumberland Building Society, Melton Building Society, Gen H, Mansfield Building Society, Buckinghamshire Building Society, HSBC, The Co-operative for Intermediaries, Vida Homeloans, , Virgin, Coventry Building Society, Nottingham Building Society, Dudley Building Society, Bespoke BOI, Clydesdale Bank, Perenna, Barclays |
| 85% | Foundation Home Loans, Precise Mortgages, Vernon Building Society, Norton Home Loans, United Trust Bank, Livemore Capital, Bank of Ireland, Pepper Money, LendInvest, Kent Reliance |
| 80% | Marsden Building Society, Family Building Society, Harpenden Building Society, Teachers Building Society, Swansea Building Society |
| 75% | Hodge, Market Harborough Building Society, Together, Central Trust Limited |
| Maximum LTV on New Build Flat’s (Residential) | Lenders |
|---|---|
| 100% | Skipton Building Society |
| 95% | Scottish Building Society, Monmouthshire Building Society, Hanley Economic Building Society, Bath Building Society, Santander, Ecology Building Society, Leek Building Society |
| 90% | Stafford Building Society, Atom Bank, The Mortgage Lender, Metro Bank, Hinckley & Rugby Building Society, Principality Building Society, Buckinghamshire Building Society, Kensington Mortgages, Accord Mortgages, Vida Homeloans, Newcastle for Intermediaries |
| 85% | Norton Home Loans, Vernon Building Society, Hodge, Gen H, Mpowered Mortgages, Mansfield Building Society, The Co-operative for Intermediaries, West One Loans, Precise Mortgages, Halifax, NatWest, HSBC, Aldermore, Tipton Building Society, Barclays, Cambridge Building Society, Nationwide Building Society, TSB, Leeds Building Society, Livemore Capital, United Trust Bank, Newbury Building Society |
| 80% | Dudley Building Society, Progressive Building Society, Perenna, Harpenden Building Society, Virgin, Teachers Building Society, Nottingham Building Society, Chorley Building Society, Clydesdale Bank, The Loughborough Building Society, Cumberland Building Society, Bespoke BOI, Swansea Building Society, Bank of Ireland, Beverley Building Society |
| 75% | Coventry Building Society, Saffron for Intermediaries, Kent Reliance, Central Trust Limited, LendInvest, Furness Building Society, Suffolk Building Society, Earl Shilton Building Society, Bluestone Mortgages, West Brom Building Society |
| 70% | Darlington Intermediaries |
| 65% | Market Harborough Building Society, Foundation Home Loans |
| 60% | Together, Melton Building Society |
| Not Acceptable | Pepper Money, Family Building Society, Marsden Building Society |
Developer incentives:
Incentives like “stamp duty paid” or “cashback” are great but can affect how the lender values the deal, so they must be declared upfront.
Leasehold vs freehold:
New build flats are almost always leasehold, so it’s crucial to understand the lease terms, service charges, and ground rent before you commit.
New Build Mortgage Offer periods
If the build takes longer than expected, your mortgage offer might expire, meaning you’ll need either a new offer or an extension. Some lenders are flexible with this, while others aren’t — so timing your application properly is key.
Here’s a list of some of the main lenders and how long their mortgage offers typically last for off-plan or new build purchases:
| Offer Validity | Lenders |
|---|---|
| 270 days | Coventry Building Society, Bespoke BOI, Metro Bank, Skipton Building Society, Newcastle for Intermediaries |
| 240 days | Principality Building Society |
| 210 days | Virgin |
| 183–182 days | NatWest (183 days), Suffolk Building Society (182 days) |
| 180 days | Halifax, Kent Reliance, Santander, Clydesdale Bank, Saffron for Intermediaries, Melton Building Society, The Mortgage Works,Society, Kensington Mortgages, Barclays, Vida Homeloans, Aldermore, Fleet Mortgages, BM Solutions, Hanley The Co-operative for Intermediaries, State Bank of India, TSB, Newbury Building Society, Penrith Building Society, Precise Mortgages, Leeds Building Society, Mansfield Building Society, Darlington Intermediaries, Accord Mortgages, Beverley Building Society, Nottingham Building Society, The Mortgage Lender, HSBC, Bank of Ireland, Hinckley & Rugby Building Society |
| 150 days | Family Building Society |
| 120 days | Mercantile Trust, Foundation Home Loans, Zephyr Homeloans, Molo Finance |
| 91 days | CHL Mortgages |
| 90 days | Society, West One Loans, Harpenden Building Society, Paragon Mortgages, Landbay, Hampshire Trust Bank, Market Financial Solutions, Keystone Property Finance, Pepper Money, Lendco, Swansea Building Society, Castle Trust |
| 30 days | Central Trust Limited |
| 28 days | Octopus Real Estate |
| 6 days | Skipton International |
| Not Acceptable | Leek Building Society |
How Strive Can Help
At Strive, we know off-plan buying inside out. We’ve helped hundreds of clients secure mortgages on new developments across the UK — from apartments still on paper to houses nearing completion.
We’ll:
- Identify the lenders most comfortable with off-plan purchases
- Help you line up your mortgage offer at the right time
- Manage any re-inspection or offer renewal process
- Work closely with your solicitor and developer to keep everything on track
Buying off-plan doesn’t have to be stressful — you just need the right guidance. With Strive by your side, you’ll move in with confidence, knowing your mortgage, timing, and plan are all under control.
Outstanding service and clear communication are at the core of what we do. But don’t just take our word for it—read firsthand experiences from our clients and discover why they rate us a 5-star mortgage broker.
Jamie Elvin
Jamie is an expert in all things mortgages, and our most experienced broker. Connect with Jamie and get started to see how Strive Mortgages can help you.
